To understand what is a minimum income guarantee (MIG) programme of the sort announced by Rahul Gandhi earlier this week, it is useful to start with what it is not. To start with, it is not a universal basic income (UBI) proposal, something I have discussed in this space a few years ago. The UBI is universal and not targeted to any group, including the poor. Also, it is a flat lump-sum amount that does not depend on the recipient's income level. In contrast, despite the fact that we do not yet know the specifics of the MIG proposal, it appears from media reports and clarifications provided on the proposal that if someone's income falls below some threshold level, then the person will get enough to bridge the gap - like a top-up. This makes it a progressive income transfer scheme - those who are poorer will proportionally receive more. This is the same principle as a progressive income tax, except here we are talking about transfers received and not taxes paid. What an … [Read more...] about Opinion: Rahul Gandhi’s New “Game-Changing” Scheme Could Work
New build guarantee scheme
Buyers of new-build homes on a Canterbury housing estate face "outrageous" service charges in excess of £1,000 a year.A two-bedroom flat on the Royal Parade development off Littlebourne Road comes with annual maintenance fees of £1,190 under a leasehold deal, while prospective owners of a four-bedroom house must find £900 a year.Developer Taylor Wimpey says the costs are for upkeep of green spaces on the former Howe Barracks site, such as an 11-acre area of communal parkland and residents' front gardens.But campaigners say these "estate charges" are unfair and, with no guarantee they will not escalate, also risk making the homes unsellable in future.The fees are payable on all 171 homes being built during the development's first phase, including shared ownership and social rent properties classed as affordable housing - bringing in a total of about £130,000 a year.BT worker Keith Hince became a member of the National Leasehold Campaign after finding out his flat in … [Read more...] about New build buyers charged “outrageous” estate fees
Countries everywhere are focused on supporting Small and Medium Enterprises (SMEs). From successive G20 presidencies (Turkey, China, Germany) to many of our emerging country clients, supporting SMEs has become a clarion call. While this support appears to be largely driven by the global unemployment crisis (particularly among the youth) SMEs contribute much more than just jobs, including exports, production, innovation, diversification, geographic dispersion, and opportunities for women and youth entrepreneurs. A lack of access to adequate finance is one of the biggest constraints SMEs face worldwide. It is estimated that between 50% to 70% of SMEs in emerging markets are either not funded or under funded by the formal financial sector. If SMEs are responsible for delivering so many economic benefits – why are banks so reluctant to lend to them? Clearly there are problems of information asymmetries – weak accounting data provided by SMEs, a tendency … [Read more...] about Do credit guarantee schemes encourage banks to lend to SMEs?
A YOUNG couple from Dorset moved into their new-build three bed house seven months ago but the builders are still not quite finished. Natasha Paul, 21, and Marcus Healey, 24, picked up the keys to their new house in Sherbourne, Dorset in December last year. Since then the builders still have a set of keys and pop back to fix faults, such as a dodgy radiator or cracks in their walls. But as the couple have a two year guarantee from the building firm on the property it doesn't cost them a penny extra. And although they don't regret anything, the pair still can't wait for it all to be finished. Every week we nose around a first-time buyers' pad - cribs style - in our My First Home series. First things first, what's your house like and how much did you pay for it? It's a new build semi-detached with three bedrooms in Sherbourne, Dorset. We bought the house for £232,955 and we needed a 5 per cent deposit which was £12,000 between us. We pay £680 a month for our mortgage … [Read more...] about Young couple moved into new build 3-bed house six months ago but builders are still fixing faults
Major plans are being drawn up which could transform and modernise Doncaster Royal Infirmary, its boss has revealed. Bosses at the Doncaster and Bassetlaw Teaching Hospitals NHS Trust are planning to apply for what is expected to run into tens of millions of pounds for what would be one of the biggest projects at the site in the last 50 years.The scheme would seek to bring the building into the 21st century by improving aspects such as its wiring and its fire precautions, as well as providing modern new wards and centralising medical assessment teams alongside the A&E department.The Government had previously agreed to fund changes to A&E at the hospital subject to a final business plan, but the bosses have increased the scope of their plans.A bid for funds is expected to be lodged with the Government in the summer, with a decision on whether the scheme gets the go-ahead expected to be made in the autumn.It is one of a number of high profile NHS capital schemes which could boost … [Read more...] about Multimillion pound plans for major modernisation work on Doncaster’s hospital buildings